LG Electronics net profit down 58.5 percent in Q1
Date
4/29/2015 2:55:28 AM
(MENAFN) LG Electronics Inc. said it logged a drop of 58.5 percent in its first-quarter net profit as home entertainment business offset relatively robust smartphone sales, Yonhap News reported.
South Korea's second largest tech giant's net profit amounted to USD35.9 million in the first three months of the year, dropping from a profit of USD86.46 million, the company said.
Meanwhile, operating profit came to USD285.3 million, a decline of 36.2 percent from the USD447.48 million registered a year earlier, while sales remained flat at USD12.99 billion.
"While establishing reputations as a premium brand in the advanced markets via flagships and smart watches, we will also expand sales of the low-end handsets with high-end features," the company said.
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